An employee lost his 90% vision while discharging office duty. He is now not able to perform any kind of work. The company has offered him some lumpsum amount on humanitarian grounds so that he can complete his childerns education and other duties.
Whether that amount would be taxable or treated as capital Receipt?
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Capital Receipt vs Revenue Receipt
Replies (2)
If it is medical expenses reimbursement granted it's not taxable.But, the hr policies must be logical to justify his payment for medical policies.
Employer to employee payments covered under salary only
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